Elco Landmark Pays $48M For Jacksonville Developments

Law360, Miami (March 5, 2013, 7:17 PM EST) -- Elco Landmark Residential announced Tuesday that it has completed a $47.5 million acquisition of two multifamily properties in a Jacksonville, Fla., suburb, continuing a string of large residential transactions in the area, including another by the company in December.

The Tampa-based real estate outfit's purchase of the adjacent Orange Park, Fla., properties from Equity Residential comes a few weeks after the $56 million acquisition of the Country Club Lakes Apartments in Jacksonville by GoldOller Real Estate Investments LLC of Philadelphia. Equity Residential also sold a three-property...